Nevada Insurance 101 - See why millennials should understand the ins and outs of health insurance.

See why millennials should understand the ins and outs of health insurance.

What Millennials Need to Know about Health Insurance

Consumers between 18 and 34 years old are considered millennials or young invincibles, a group that some researchers say aren’t getting health insurance. According to a 2014 United States Census report approximately 20% of consumers between the ages of 19 - 25 years old are uninsured in Nevada.

Insurance is confusing for many, not just millennials which is why education is key to understanding health insurance and making educated decisions when purchasing a health insurance policy.

 This blog is about why millennials need to consider purchasing a health insurance policy.

By purchasing a health insurance policy, millennials can protect their health and their wallets. Unexpected accidents and illnesses do happen.  For instance, a mountain biking activity results in a trip to the ER, or a weekend game of soccer sends you to orthopedic group or that nagging pain in your right side is diagnosed as an appendicitis attack.  The bill from the doctor or hospital will not only hurt your bank account it can turn into a credit nightmare. Plus, preventive care is usually part of a health insurance policy. This includes vaccines, health screening / counseling, an annual physical, and women’s health care. 

Millennials worry about the cost of a health insurance policy; however, insurance doesn’t have to be expensive. A high deductible plan may limit a possible financial disaster. Catastrophic and bronze plans are available for as low as $100 a month for a nineteen year old and people in their twenties can easily find a plan for around $200 or less a month. To view health insurance rates visit

The price to pay for not having health insurance is increasing.  In 2016, the penalty for not having health insurance is $695 for an individual and $2,085 for a family or 2.5 percent of your income, whichever is greater.

Additionally, millennials may be eligible for free or significantly reduced-cost coverage through Medicaid or tax subsidies.  To learn whether these savings might apply please check online at Nevada Health Link.

Under the Affordable Care Act, a person may stay insured under their parent’s health insurance policy until they are 26 years old. After that, millennials need to purchase their own health insurance. It may be a good idea to start shopping before the age of 26, so the new insurance policy may begin when the old one stops, avoiding any gaps in coverage.  

Investing in a health insurance policy now, can save you a lot of money later. Don’t begin your career with a bankruptcy or poor credit because you were caught unprotected by a health problem or an injury.  The cost of two nights in a hospital can be the difference between good credit and years of rebuilding to resurrect that good credit.

Frequently Asked Questions

Everyone should shop for coverage...even if you already have insurance. There are new plans available each annual enrollment period so you should be sure to review your options. Even if you decide to stay with your current plan, here are some questions you should ask to be sure that you pick the plan that is best for you.

  • Does the health plan cover your preferred doctor?

  • Are your current medications covered by this plan?

  • Are you eligible for a subsidy?

  • Do you anticipate high or low medical expenses next year?

  • Is the premium affordable?

  • Is the deductible affordable?

Put all that knowledge to work. Use our Rate Wizard Tool to compare rates now.

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